Industrial Gases Market will reach a value of US$ 518.2 Bn by 2033 at a CAGR of 16.1% | Future Market Insights, Inc.

Large-scale Infrastructure Projects and Increasing Investments in Asia Pacific to Create Demand. The growing industrialization in major cities and application of industrial gases in pharmaceutical, food & beverage, oil & gas industry is expected to boost the industrial gases market

NEWARK, Del, Dec. 08, 2022 (GLOBE NEWSWIRE) -- The adoption of industrial gases is expected to increase at a CAGR of 16.1% during the forecast period. The industrial gases market size is anticipated to rise from US$ 116.47 Bn in 2023 to US$ 518.2 Bn by 2033.

The market's growth is mostly the result of the rise of the manufacturing sector in growing economies. Furthermore, it is projected that the usage of industrial gases would expand in a number of industries, including healthcare, metal and mining, and the production of beverages and food, along with rising industrialization and urbanization.

Download Sample Copy of Report @

Additionally, a number of global non-profit organizations, including the European Industrial Gases Association, offer manufacturers professional guidance on the creation, transportation, storage, and use of industrial gases.

The central and state governments have implemented a number of steps to enhance industrial penetration in their various regions, including tax relief, flexible rules, access to resources, and affordable land.

Through 2023-2033, the demand for industrial gases is anticipated to be driven by ongoing investments in significant infrastructure projects and rampant investments in core industrial sectors.

Key Takeaways from Market Study

  • In 2021, Oxygen had the highest revenue share (28.1%) due to its numerous applications in various industries such as gasification of coal as well as the clean-up of hazardous waste and contaminated water. Oxygen is used widely in the healthcare industry as well.
  • In 2021, the cylinder category had the highest revenue share (37.20%). Gases such as argon, nitrogen, helium, oxygen, and hydrogen can all be compressed into cylinders and distributed at pressures of up to 300 bar with ease.
  • Though the market composition varies by region or geography, bulk gas distribution is a significant component of the industrial gas supply chain, accounting for up to 26% of revenues in 2015.
  • The Healthcare segment held a substantial share of the industrial gases market in 2021 and is expected to grow at a CAGR of 6.3% between 2023 and 2033. Industrial gases have thriving applications in surgical tools, inhalation therapy, anesthetics, and other fields
  • Asia Pacific is expected to grow at the fastest CAGR with a 36.40% revenue share in 2021. End-use sector development and expansion in China, India, South Korea, and Japan can be linked to rising consumption for industrial gases in the Asia Pacific countries.
  • The United States has a promising future in industrial gases market. The region's expanding healthcare and electronic sectors are likely to aid in the growth of the North American market.
  • GAIL intends to invest in startups that are active in the focus industries, with natural gas, petrochemicals, and energy being the three main industries. 20% of the startup's overall equity will be the maximum amount of equity that can be invested under this initiative.

Use promo code ->> FMITODAY to get flat 20% discount

Competitive Landscape

Consumer density advantages and rivalry are diminished as a result of the vastly high transportation costs. Some of the factors on which industry participants compete are price, brand image, quality, technology, and distribution network. Local businesses supply multinational corporations in addition to their domestic sales to achieve economies of scale. Due to the large number of market participants, there is intense competition. Businesses may only succeed in this fiercely competitive global market by developing novel, multifunctional products, improving quality, and offering competitive prices.

Some of the Key Players Operating in Industrial Gases Market Include:

  • Yingde Gases Group Company Limited
  • Air Liquide S.A
  • Linde Group
  • Airgas Inc.
  • Messer Group
  • Buzwair Industrial Gases Factories
  • Air Products and Chemicals Inc.
  • Taiyo Nippon Sanso Corporation
  • Air Water Incorporation

Latest Developments in the Industrial Gases Market

  • Linde announced in February 2022 that it has secured a long-term contract with BASF for the provision of hydrogen and steam. The capacity of Linde in the chemical park at Chalampé, France, will be essentially doubled by the construction and operation of a new hydrogen production facility. The new BASF hexamethylenediamine (HMD) production facility will be supplied by this plant. In the first half of 2024, the plant is anticipated to come online.

Explore More Valuable Insights

Future Market Insights, in its new report, offers an impartial analysis of the global Observability platform market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.

The study offers compelling insights based on product type (Bread, Cakes, Pizza Bases, Muffin, Hamburgers, and Other Product Types), Application (Bakery, Confectionary, Restaurant, Household), and Sales Channel (Direct, Indirect) across seven major regions of the world.

Request Customization @

Key Segments Covered in the Industrial Gases Market Report

By Product Type:

  • Oxygen
  • Nitrogen
  • Carbon dioxide
  • Hydrogen
  • Argon
  • Acetylene
  • Others

By Application:

  • Manufacturing
  • Healthcare
  • Food & Beverages
  • Metallurgy & Glass
  • Chemicals & Energy
  • Retail
  • Others

By Distribution:

  • On-site
  • Bulk (Liquid Gas Transport)
  • Cylinder (Merchant)

Table of Content:

1. Executive Summary

    1.1. Global Market Outlook

    1.2. Demand-side Trends

    1.3. Supply-side Trends

    1.4. Technology Roadmap Analysis

    1.5. Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

3. Market Background

    3.1. Market Dynamics

        3.1.1. Drivers

        3.1.2. Restraints

        3.1.3. Opportunity

        3.1.4. Trends

Browse Full Report with TOC @

Have a Look at Related Research Reports of Chemicals & Materials

High Purity Gases Market Size: High purity gases can be manufactured through several manufacturing methods, such as cryogenic-liquefaction & air fractional distillation, pressure swing adsorption using molecular sieves, hydrocarbon steam reforming process and purification of purge gas, among others.

Di-electric Gases Market Share: The di-electric gases market is estimated to grow at a substantial rate over the forthcoming years due to its rising demand from several application industries such as, chemicals & petrochemicals, heavy metals, mining, transportation, and others.

Biophotonics Market Trends: The Biophotonics Market is expected to register a CAGR of over 11.3% between 2021 and 2031.The market for biophotonics witnessed a massive slowdown in its progress as a result of the spread of the Covid-19 pandemic across the globe.

Biogas Market Growth: Global biogas market size to reach US$ 61.2 Bn in 2021. Rising demand for renewable energy will result in high sales of biogas. The biogas market is predicted to grow by 6.80% CAGR between 2021 and 2031.

Gas Hydrates Market Analysis: According to the report published by Future Market Insights, gas hydrates market value is likely to grow at a CAGR of 4.7% during the forecast period ranging from 2022 to 2032.

About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

Contact Us:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
For Sales Enquiries: